GroupM has today announced its chairman and CEO John ‘Steady’ Steedman will step down from the position as of June this year. A replacement is yet to be announced. Steedman will remain in a consultancy role as non-executive chairman.

A replacement for Steedman will be appointed in due course, with Mark Patterson, GroupM CEO Asia Pacific, assuming overall responsibility in the interim period if required.

Dominic Proctor, president, GroupM Global, said: “Steady and I have known each other as colleagues and friends for 30 years since we were both juniors at JWT, although at different ends of the world. He has been brilliant for us and we wish him a brilliant time off. He is a top bloke and embodies all that is good about this industry and our company.”

Mark Patterson added: “I have worked for and with Steady for fifteen years now in the region. He is a first-class man, colleague, mentor and friend. He has given his all professionally and personally, to first build Mindshare and then GroupM in both Asia Pacific and Australia and create the remarkable company we all very proud of today. While he is stepping back from the day-to-day management of the company, the good news is he will be with us on hand and ‘on call’ to advise, counsel, mentor and assist along the way.

“Australia is a top ten market for us globally and leads the way in many areas, and with a strong management team across our whole business, it will continue to do so.”

Steady said: “I’ve been working in the advertising business since the age of 16 and I think it’s time to step back and give the next generation the opportunity to lead. I’m incredibly proud of everything GroupM has achieved over the past five years and the way we’ve adapted our business model to suit the changing times. Our success is testament to the incredibly talented people we have among our ranks, and I feel honoured to have worked with each and every one of them and been part of the group’s success story. I am confident the business will continue to go from strength to strength.”